"You know he has enough pressure on a daily basis," Daley told NBC's Phil Rogers, explaining that Obama has done everything in his power thus far.
"I'm a chief executive and I have to make decisions," he said, apparently empathizing with the president's position, "and Michelle Obama will represent us very well."
Reiterating his enthusiasm for the first lady's support, Daley said Michelle Obama "knows more about the South Side, knows more about the Jesse Owens history and Ralph Metcalf, knows more about sports" and would make a very persuasive case for Chicago.
Obama's also fighting for health care, which everyone understands is a time-consuming battle, Daley said.
There have been several recent indications that Obama will make the case for Chicago in Copenhagen.
Obama staffers recently told reporters the White House was sending an advance team to Copenhagen just in case Obama can go.
Last week, both the president and Michelle showed their support for Chicago's bid during an Olympic and Paralympic demonstration on the White House South Lawn.
Asked whether he was "betting the ranch" on getting the bid, Daley demurred.
"No one bets a ranch ..." he said. "This is something you wanna go for. Other cities couldn't get it in America. Other cities couldn't get it in the world. There's only four competing. And so that's tough competition."
"This is bigger than me. This is not rich daley's olympic and paralympic," he said.
Daley also said that criticism of the bid was expected and welcome.
"There's nothing wrong with anyone questioning, whether it's an editorial, headline, things like that," he said.
"Because then you make a better bid process. And that's how it goes ... "
Full Coverage: Chicago's Olympics 2016 bid.